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COMMISSIONER'S REGULAR MEETING <br />Friday, arch 17, 1978 <br />FL00B DISCUSSIONS <br />(Que tions asked of Mr. Brademas regarding his proposal): <br />Mr. an Caesar: Why are you assured that it won't take very long? <br />Mr. rademas: I have been working with the Federal Department of Housing & <br />Urbap Development, and with politicians for some twenty years now. I can <br />tell you that the funds are available, if the administration feels that <br />this is a positive step, and in fact would aid in the overall development <br />of the downtown through the official representatives in very short order. <br />Mr. Dan Caesar: How much did you say? Three million, or less than that? <br />Mr. rademas: The housing would probably be about two and a half million, <br />and the commercial about half a million. It may be three and a half, but <br />it will be somewhere in the neighborhood of three to three and a half million. <br />Ms. Jeanne Derbeck: Does this involve tearing down the American Bank Building? <br />Mr. rademas: No...No. <br />Ms. eanne Derbeck: Then you will leave it up and rennovate it? <br />Mr. rademas: Actually, rennovation of the exterior, and the first floor <br />of t e building would not be extensive. The problem is the second and <br />thir floor because there is no access. <br />Ms. eanne Derbeck: Could you find a way to use the second and third floors? <br />Mr. rademas: Yes, we have already had some discussion with Mr. Schrager, and <br />he has indicated that he would be more than happy to cooperate with us. <br />Ms. eanne Derbeck: Would this mean that you would not buy the American <br />Bank Building? . <br />Mr. rademas: That would not be necessary. It is possible, Mr. Schrager <br />has ndicated to me, that if we are able to go forward, that he and his group <br />mighi like to be involved with our development. We have had, for some time, <br />the lorgan Trust Company as a principle investor in our various housing projects, <br />and a have no fear about the financing; the financing is the least of the <br />problems. <br />Ms. qeanne Derbeck: Then, if you aren't going to tear down the old American <br />Bank Building, we don't have to worry about the historic preservation. <br />-14- <br />